Editorial
PRIVATE MARKETS
CONTENTS
P4 : Private markets in figures Private markets explained in six numbers
If I was writing this 300 years ago, buying stakes in private compa- nies, direct lending and property would be mainstream investment classes. Yet today, they are known as alternatives. Liquidity concerns and being difficult to access have made private market assets an alternative to the publicly-listed securities which now dominate institutional investment portfolios. But with some considering valuations on the stock market a little high and with interest rates only rising gradually, investors are turn- ing towards these once mainstream assets again. Indeed, such assets under management globally swelled by $2.4trn (£1.8trn) during 2021, according to McKinsey. It is a growing market. But are investors only chasing private market assets for the return they could offer or is there more to it? In the following pages we find out what investors are looking for and how they are navigating the challenges that come with investing in private markets.
Mark Dunne Editor
m.dunne@portfolio-institutional.co.uk
P5: Participants An introduction to the people taking part in our discussion
P6-23: The debate Trustees, an insurer, asset managers and consultants sit down to discuss institutional investment in private markets
P24-25: Don’t forget about growth Cambridge Associates’ Ben Gunnee discusses the role private equity plays in mature pension schemes
P26-27: Alternative income for DB Mark Humphreys of Invesco outlines the case for adding alternative assets to your portfolio
P28-33: Feature: Infrastructure What does the asset class bring to institutional portfolios?
May 2022 portfolio institutional roundtable: Private markets
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